Tracking the positive developments on Wall Street overnight coupled with the higher crude oil prices, the FBM KLCI closed at an intraday high of 1,782.98 pts yesterday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,790-1,800 levels. Support will be set around the 1,750 level.

LEONFB has experienced a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a breakout above the RM0.795 level, targeting the RM0.86-RM0.90 levels. Support will be anchored around the RM0.76 level.

GCB as price experienced a consolidation breakout above the RM1.54 level accompanied by higher volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price may rally, targeting the RM1.67-RM1.80 levels. Support will be pegged around the RM1.45 level.

SERBADK has experienced a flag-formation breakout above the RM2.15 level with high volumes. The MACD Indicator has issued a BUY signal, while the RSI is above 50. Price may trend higher, targeting the RM2.30-2.40 levels. Support will be set around the RM2.08 level.

Source: Mplus Research - 8 Sept 2017